National Low Income Housing Coalition Report Discusses Rental Housing Costs
A worker earning the national minimum wage would have to work 97 hours a week to afford the typical rent for a two-bedroom unit, according to a new report released Sept. 20. Out of Reach, by the National Low Income Housing Coalition, contains income and rental housing cost data by state, metropolitan area and county, for the 50 states and the District of Columbia. The report calculates the income that renter households need in order to afford rental housing and estimate how many of these households cannot afford to pay the Fair Market Rent. "We must expand the availability of housing assistance and invest more resources in production and preservation of affordable housing," the report concludes. To access the report, click here.